Piedmont Investment Advisors Inc. purchased a new stake in shares of HCP, Inc. (NYSE:HCP) during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 7,719 shares of the real estate investment trust’s stock, valued at approximately $242,000.
Other institutional investors also recently modified their holdings of the company. Pacific Center for Financial Services boosted its holdings in HCP by 123.5% during the fourth quarter. Pacific Center for Financial Services now owns 894 shares of the real estate investment trust’s stock worth $25,000 after buying an additional 494 shares in the last quarter. Massey Quick Simon & CO. LLC acquired a new stake in HCP during the 1st quarter worth about $25,000. Executive Wealth Management LLC acquired a new stake in HCP during the 4th quarter worth about $30,000. Rational Advisors LLC boosted its position in HCP by 336.7% during the 4th quarter. Rational Advisors LLC now owns 1,262 shares of the real estate investment trust’s stock worth $35,000 after acquiring an additional 973 shares during the period. Finally, Pearl River Capital LLC acquired a new stake in HCP during the 4th quarter worth about $35,000. Institutional investors and hedge funds own 95.47% of the company’s stock.
Shares of HCP traded up $0.18 during midday trading on Friday, reaching $31.98. 3,965,853 shares of the stock were exchanged, compared to its average volume of 3,171,391. The business has a 50 day simple moving average of $31.67. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.80 and a current ratio of 0.80. HCP, Inc. has a 12-month low of $24.47 and a 12-month high of $33.58. The firm has a market cap of $15.10 billion, a P/E ratio of 17.57, a price-to-earnings-growth ratio of 6.87 and a beta of 0.32.
In related news, Director Christine Garvey sold 3,405 shares of the firm’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $29.80, for a total value of $101,469.00. Following the transaction, the director now directly owns 5,348 shares of the company’s stock, valued at approximately $159,370.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.13% of the stock is currently owned by company insiders.
A number of equities research analysts have commented on the company. Zacks Investment Research upgraded HCP from a “sell” rating to a “hold” rating in a research report on Thursday, March 14th. Morgan Stanley set a $32.00 price target on HCP and gave the stock a “hold” rating in a research note on Thursday, March 28th. TheStreet downgraded HCP from a “b-” rating to a “c+” rating in a research note on Tuesday, May 7th. Finally, Raymond James raised HCP from a “market perform” rating to an “outperform” rating and set a $35.00 price target for the company in a research note on Thursday, June 13th. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. HCP has a consensus rating of “Buy” and an average price target of $30.05.
HCP, Inc is a fully integrated real estate investment trust (REIT) that invests in real estate serving the healthcare industry in the United States. HCP owns a large-scale portfolio primarily diversified across life science, medical office and senior housing. Recognized as a global leader in sustainability, HCP has been a publicly-traded company since 1985 and was the first healthcare REIT selected to the S&P 500 index.
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